| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 28th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 402 E New Hampshire St, Harlingen, TX, 78550, US |
| Region / Metro | Harlingen |
| Year of Construction | 1993 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
402 E New Hampshire St, Harlingen TX Multifamily Investment
Renter demand is supported by a high neighborhood renter concentration and everyday retail nearby, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood has been steady, offering a baseline for cash flow while value-add can target competitive positioning.
Located in Harlingen’s inner suburb fabric, the property benefits from practical amenities that serve day‑to‑day needs. Grocery access is strong relative to peers (competitive among Brownsville–Harlingen neighborhoods and top quartile nationally), and restaurants are likewise competitive, while cafes, parks, childcare, and pharmacies are sparse in the immediate area. For investors, this mix suggests convenience for routine shopping but limited destination amenities that could be addressed through on‑site programming or partnerships.
Neighborhood occupancy is around 88%, tracking below the metro median over the last five years, yet the share of housing units that are renter‑occupied is high (about 61% and among the top quartile of 133 metro neighborhoods). This combination indicates a deep tenant base even as leasing strategies may need to work a bit harder than in the metro’s tightest subareas to sustain occupancy. Median contract rents in the neighborhood remain accessible relative to incomes (rent‑to‑income near 23%), which can help pricing power stay disciplined and support retention.
Within a 3‑mile radius, WDSuite’s data shows population growth in recent years alongside a faster increase in households and families, with projections calling for continued household growth and a modestly smaller average household size through 2028. For multifamily demand, a larger household count and a shift toward smaller household sizes typically expand the renter pool and support occupancy stability.
Home values in the neighborhood are comparatively low versus national norms, implying an ownership market that is more accessible than high‑cost metros. For investors, that can introduce some competition from entry‑level ownership; however, accessible rents and a high renter concentration suggest durable depth for workforce‑oriented product. Average school ratings in the area trend lower, which may influence family‑oriented leasing; owners catering to value‑seeking singles and couples may see steadier traction. This commercial real estate analysis is based on WDSuite’s multifamily property research for the neighborhood, not the specific asset.
Neighborhood‑level crime metrics are not available in the current WDSuite release for this block‑group cluster. Investors typically compare local trends to city and county benchmarks and review recent incident maps to assess on‑the‑ground conditions and management needs. Site‑level measures (lighting, access control, and community engagement) remain important levers for resident experience and retention.
Nearby employers provide a mix of telecom services, parcel logistics, and commercial printing—supporting a steady base of working renters and commute convenience for residents.
- Dish Network — telecom/services (2.9 miles)
- United Parcel Service — parcel logistics (32.4 miles)
- R R Donnelley & Sons — commercial printing (36.3 miles)
Built in 1993, the asset is slightly older than the neighborhood average vintage, pointing to potential value‑add through exterior refresh, common‑area upgrades, or in‑unit modernization to outperform nearby 1990s stock. According to CRE market data from WDSuite, the surrounding neighborhood shows a high share of renter‑occupied housing and accessible rents relative to income, which together suggest a deep tenant base and manageable affordability pressure for workforce‑oriented units.
Households within a 3‑mile radius have expanded and are projected to grow further, with a modest shift toward smaller household sizes—factors that typically broaden the renter pool and support leasing velocity. Amenity access favors daily‑needs retail and restaurants, while limited parks and specialty retail indicate that on‑site amenities and management can be differentiators. Ownership options appear relatively attainable locally, so disciplined pricing and targeted renovations will be important to sustain occupancy and reduce turnover risk.
- Renter‑heavy neighborhood with accessible rents supports demand depth and retention
- 1993 vintage presents clear value‑add angles to compete with 1990s peer stock
- 3‑mile household growth and smaller household sizes expand the renter pool
- Daily‑needs retail and restaurants nearby aid leasing convenience
- Risks: below‑metro occupancy, lower school ratings, and ownership competition require active leasing and asset management